Van ECK Associates Corp lifted its stake in MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 4.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,231,410 shares of the company's stock after acquiring an additional 467,817 shares during the quarter. Van ECK Associates Corp owned 9.91% of MAG Silver worth $143,649,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its stake in shares of MAG Silver by 23.4% in the first quarter. Oppenheimer & Co. Inc. now owns 455,150 shares of the company's stock worth $4,815,000 after acquiring an additional 86,440 shares during the period. Janus Henderson Group PLC purchased a new position in shares of MAG Silver in the first quarter worth approximately $3,925,000. Jupiter Asset Management Ltd. boosted its holdings in shares of MAG Silver by 6.5% in the first quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company's stock worth $26,584,000 after buying an additional 153,274 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of MAG Silver by 310.5% in the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company's stock worth $2,224,000 after buying an additional 144,007 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of MAG Silver by 304.8% in the second quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company's stock worth $299,000 after buying an additional 19,253 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors.
MAG traded down $0.34 during trading hours on Friday, hitting $16.75. The company's stock had a trading volume of 558,403 shares, compared to its average volume of 790,873. MAG Silver Corp. has a 12 month low of $8.19 and a 12 month high of $18.27. The stock has a market capitalization of $1.73 billion, a PE ratio of 28.88 and a beta of 1.12.
MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.02. As a group, research analysts forecast that MAG Silver Corp. will post 0.71 earnings per share for the current year.
A number of equities analysts recently issued reports on MAG shares. HC Wainwright raised their price objective on shares of MAG Silver from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Monday, August 5th. StockNews.com raised shares of MAG Silver from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Roth Capital downgraded shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 24th. Scotiabank lifted their price target on shares of MAG Silver from $14.50 to $15.50 and gave the company a "sector outperform" rating in a report on Monday, August 19th. Finally, Roth Mkm downgraded shares of MAG Silver from a "buy" rating to a "neutral" rating and lifted their price target for the company from $17.00 to $17.50 in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $17.88.
View Our Latest Analysis on MAG Silver
MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company's flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.
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